Eastway, Preston

change of use, value engineering, de-risking

In 2014 Eastway was a stalled employment site with a large infrastructure requirement, lack of market interest and viability issues. Stuart and Mark made the case for residential-led mixed-use development through, a close working arrangement with the local planning authority, a viability argument and a subsequent outline planning permission.

Through the planning process the link road running through the site was re-aligned and value engineered and the site generally de-risked through the provision of a comprehensive pack of technical information. Outline planning permission was secured for 300 dwellings and 2.1 Ha of employment land in September 2014. Through the management of a successful disposal process, the residential development site is well underway and the commercial developer due to start on site in mid-2018. Stuart and Mark’s work on Eastway will realise an over 10-fold increase in value of the site as compared with 2014 asset value.

 

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